Late fee

Meaning

A late fee can be a fee you charge clients if they pay late, or a fee that you have to pay the tax authorities if you don’t make a deadline.

Key points

• Late fee appears frequently in invoicing, payment handling, and bookkeeping workflows.
• The term improves clarity between clients, suppliers, and accounting teams.
• Consistent use supports cleaner documentation and better reporting quality.

Practical use

In Nexbal workflows, late fee is used to keep invoice and payment operations structured and auditable.